Many people are facing large, often insurmountable debt obligations these days, and according to some estimates, medical bills account for half of all collections reported to credit agencies.

Even with a sound long-term financial plan, you may be confronted with unexpected health problems, including an unplanned hospital stay for a member of your family. This can have a significant effect on your financial well-being.

After a hospital stay, many individuals and families without comprehensive hospital insurance face large bills they can't afford to pay. Most people, and even some hospitals, are not aware that the new Affordable Care Act (ACA) has provisions that prohibit certain collection techniques hospitals have used on people having difficulty paying bills for care. Hospitals that continue to use these collection techniques may lose their federal tax exemption.

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